Flood risk can't be eliminated, but governments and property owners can employ measures to improve resilience and reduce the impact of flooding, Aon experts say. "Property owners smart enough to take such steps will experience substantially lower losses than real estate owners without those protections in place," said Kevin Madden, real estate practice leader at Aon.
The Congressional Budget Office says the government's spending on disasters could rise from today's $28 billion to $39 billion in current dollars by 2075, when 10 million US residents will be "substantially affected" by climate change. The CBO suggests requiring coastal residents to carry more of the financial burden of their risk, as curtailing emissions might not go far enough to address the problem.
While most insurance industry professionals believe that insurance rates are due for an increase, specific increase amounts have not yet become clear, Joyce Famakinwa writes. "We have also seen insurance carriers pricing higher and then reducing their pricing," said Cynthia Beveridge, president of broking operations for Aon Risk Solutions.
Health insurance experts said a CMS proposal that would give states flexibility in how they define essential health benefits for plans sold through Affordable Care Act exchanges could result in higher out-of-pocket patient costs and leaner health plans in individual and small group insurance markets. States could choose benchmark plans from a wider pool, including those sold in other states, and they could also develop their own lists.
Officials in Pulaski County, Ark., are proposing changes to the county's pay structure in their 2018 budget after data revealed that county workers are paid significantly less than the market average. Comptroller Mike Hutchens says that while the county can't afford to bring every employee to the market midpoint at once, gradual tweaks to compensation scales could improve the situation.
A panel charged with revising the borrower defense rule implemented under the Obama administration is being asked by the US Education Department to reevaluate the liability of colleges accused of defrauding students. Supporters say new rules would be more fair to colleges, but critics say too lax rules could let abusive colleges off the hook.
Information security and building networks that help students succeed are the top concerns of higher-education IT leaders, according to the EDUCAUSE 2018 Top 10 IT Issues list. Mark Roman, chief information officer of Simon Fraser University, says higher-education leaders must treat security as an investment, because it's a matter of "when" not "if" a breach will occur.
Personalities fall into what Gretchen Rubin calls the "four tendencies," and to effectively persuade someone, it helps to know which tendency they have before crafting your approach. These tendencies explain why people typically react to expectations and feedback differently.
Aon's 2018 Global Medical Trend Rates survey reveals that the cost of health care is rising faster than inflation. In 2017, the global average increase in medical costs was 8.2 percent, against a worldwide inflation rate of 2.8 percent. To keep workforces happy, healthy and productive, companies should accelerate their efforts in helping employees understand risk factors and begin taking steps to improve their health. Find out how to address the rising cost of health care. Read more.
After working at US telecom giant AT&T for 20 years, Dean Ramsey faced retirement unsure what the next stage of his life might bring -- and how he would manage his health care. "I was suddenly faced with challenges I'd never faced before," Dean said. "I work with people. I love being with people and I'm good at that. But when I've got to sit down at a desk and do paperwork, I'm not in my element. It was scary." Dean's story is similar to that of many people approaching retirement. Learn how the Aon Retiree Health Exchange is bringing choice, savings and peace of mind to more than 230,000 AT&T retirees and their families. Read more.
Instinct is intelligence incapable of self-consciousness.
John Sterling, writer
About Aon Public Sector
We are a global team of risk management professionals serving our governmental, quasi-governmental, civil, social and educational clients. We use cutting-edge, creative and forward-thinking techniques to respond to risk related needs and to address the unique challenges of rapidly developing social and economic conditions today, and for tomorrow.
Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.